Best ways to Monetize free Mobile Application
Do you know the free Mobile Application outnumbers the paid apps in terms of profit and number of downloads, but there always arises a constant question on how to make more money with the mobile application. Now every business and individuals have started moving to make its own apps, each and every day thousands of mobile application is stored in the App store of which free apps are massive in numbers than the paid apps. The construction of the App involves time, patience and most crucial money. So, you must oversee some simple ways to boost your apps to make money.
This article provides the most effective revenue models for your free mobile application.
1. In-App purchases:
The most popular strategy of Mobile App monetization is In-App purchase options. This In-App features will get the most out of the revenue for a free apps. Actually, In-App feature allows the users with certain important feature only accessible by paying.
Subscriptions: Subscription is the most effective way to earn money with the free apps. The paid subscription will unlock the certain app features for a shorter duration of time or on a permanent term.
One of the most significant ways that app can make money is advertising. Easiest to implement using third-party networks. Google advertising is the prominent and flexible platform to earn money through free apps. Eventually, the advertising within app and on other party apps will turn on revenue within your app.
The innovative approach to the revenue generation of free mobile app is selling merchandise over it. It allows App publishers to monetize through this strategy. For instance, Amazon Merchant account allows the publishers to create & upload their artwork. In this way many other e-commerce are following the same strategies.
A cost-effective monetization strategy turns out to be to boost your app revenues is sponsorships. You can create a great app that gains a large amount of traction and reaches out to the potential funders inturn, design the app to match the sponsor's brand. For more effective revenue, split the revenue with sponsor brand and monthly subscription fee.
Referral Marketing is the best way to gain loyalty and credibility to your app. This referral marketing is performed exactly based on clicks or installs. Some of the referral marketing methods:
CPI (Cost per Install): Cost per install involves the monetization within the app for the installation of each of it. Every time app is installed the publisher is paid the amount for the installations. This is relatively known as CPI(Cost Per Install). Eventually, there are many such mobile app advertising platforms.
CPV (Cost per View): This is the best monetizing app strategy that makes money, turn out to be the source of advertising it on many ad channels. CPV involves monetization based on the each and every view of the mobile app.
CPC (Cost per Click): This type of model is based on a number of clicks that a user do with the app. CPC is the monetization model of a referral marketing where your make more clicks the more you earn. For this purpose, there exists so many ad channels to fetch in more users and clicks. Such platforms are Admob etc.
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